Inventories Are Estimated

question 100

Multiple Choice

Inventories are estimated

• A) more frequently under a periodic inventory system than a perpetual inventory system.
• B) using the wholesale inventory method.
• C) more frequently under a perpetual inventory system than a periodic inventory system.
• D) using the net method.

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Definitions:

Level Material Use

A strategy in operations management aimed at maintaining a consistent use of materials over time to achieve smooth production flow.

Facilities

Buildings, equipment, services, and installations needed for the smooth operation of an organization or for performing a specific activity.

Input-Output Control

A method of managing and regulating the flow of materials and products in a production process, from initial input to final output.

Johnson's Rule

Johnson's rule is a scheduling algorithm used in operations management to minimize the total processing time and optimize the job sequence through different stages in a manufacturing process.